Venezuela’s Bitcoin mining crackdown continues as the military seizes 35 mining rigs in a raid on a farm in Guárico. Despite President Nicolás Maduro’s recent comments about returning to the “crypto path,” police and army officials are still targeting illegal crypto miners. The Strategic Command Operations of the Bolivarian National Armed Forces (CEOFANB) announced the seizure of mining devices, extractors, and electric fans. The miners in question did not have permits or licenses for their operations, according to Domingo Hernández Lárez, the operational strategic commander of the relevant military unit.
The Venezuelan military has been deployed to disconnect Bitcoin mining farms, citing illegal connections to the National Electric System (SEN). The government blames illegal miners for recurring power outages in recent years. The CEOFANBVE conducted the raid in collaboration with Public Ministry officials at a private house in the El Mirador District. In addition to the mining equipment, a Chevrolet and Jeep were also seized. The government asserts that Venezuela has a legal framework regulating crypto mining activities and registration systems for miners, exchanges, and related services.
The Ministry of Electrical Energy claims that cutting off illegal miners from the grid will relieve pressure on networks and improve service for Venezuelan citizens. Maduro has accused a group of “bandits and thieves” of hindering previous crypto adoption efforts in the country. Despite previous directives for the army’s engineering core to mine BTC, soldiers are now focused on combating illegal mining activities. This shift resulted in raids across the country targeting unauthorized BTC miners.
The crackdown on illegal Bitcoin mining is part of the government’s efforts to regulate the crypto sector and prevent disruptions to the power grid. By disconnecting miners operating without permits or licenses, authorities aim to reduce strain on the electrical system and ensure reliable service for all citizens. President Maduro’s comments about returning to the crypto path suggest a desire to reinvigorate Venezuela’s cryptocurrency initiatives. However, ongoing enforcement actions against unauthorized miners indicate a firm stance against illegal mining activities in the country.
The seizure of mining equipment and other related items in Guárico reflects the government’s commitment to enforcing regulations in the crypto mining sector. The collaboration between military and public officials in conducting raids demonstrates a coordinated approach to combating illegal mining activities. The inclusion of powerful electric fans in the confiscated items highlights the extent of resources used in illegal mining operations. With continued crackdowns on unauthorized miners, Venezuela aims to establish a lawful and controlled environment for crypto activities in the country.
President Nicolás Maduro’s condemnation of previous obstacles to crypto adoption and his call to return to the crypto path indicate a renewed push for cryptocurrency initiatives in Venezuela. Despite setbacks and challenges, the government’s determination to regulate the sector and combat illegal mining activities remains steadfast. By seizing mining equipment and conducting raids on unauthorized operations, authorities are sending a clear message about the importance of compliance with regulatory requirements in the crypto industry. As the crackdown on illegal Bitcoin mining continues, Venezuela’s efforts to establish a structured and lawful environment for crypto activities are evident.
